Is Food Entrepreneurship for You?
Entrepreneurs, mostly, are thought of as unusually persistent and bright, no matter which industry they end up working in. Naturally, it’s not wrong to perceive entrepreneurs this way, as they’re the ones responsible for their success, and there’s usually no charted path before them that they could follow. Everyone has their path to pursue, and there’s no guarantee that someone else would have the same success even if they did the same things.
It is especially true in the food industry, where there are so many different niches to specialize in that it would take hours to name them all. And then there are also many different ways of doing business in each one of those narrower fields of specialty. If you’re asking yourself the question of whether food entrepreneurship is the right choice for you, choosing your field or approach won’t be the best questions, to begin with. Instead, you need to determine whether you have what it takes to be successful as an entrepreneur. Here are some of the traits of successful food entrepreneurs:
Building Connections with the Right People
Even though entrepreneurs often have to rely on their strengths to get them started in the business, that doesn’t mean that they have to do everything alone. The first essential thing to have is a good support system. One may find it in their family, or among the people who are trying to do the same thing that they are. It’s much easier to focus on the business and getting every aspect of it right when you surround yourself with people who motivate you and cheer you on.
In addition to that, entrepreneurs who have the right connections have a much easier time succeeding in the food industry. Getting to know others who are hustling just as hard can be a motivational factor in and of itself. Consider paying it forward, helping someone overcome a hurdle if you can, without expecting them to do the same for you. They might have a chance to help you sometime in the future and act on it.
Quick Thinking and Quick Execution
One defining trait of most successful entrepreneurs is their ability to think fast and get into action as soon as they have an idea. It’s a skill that can be learned, even though you might believe that some people are born with an entrepreneurial way of thinking. In the food business, you don’t have to be selling lemonade at a neighborhood stand as a kid to have any shot of making a successful food enterprise in the future. The experience might help you, but it’s much more important to be a person of action.
Some people fall into the trap of planning for too long and waiting for the ideal conditions to start their business. After a certain amount of time, they realize that the setting won’t ever be as perfect as they want them — and they’ll sometimes regret not starting their business earlier. If you’re the type of person who wants to act quickly on their ideas, then food entrepreneurship might be the right choice for you.
Ability to Predict and Act on Trends
Trends are a big part of any industry, and the food business is no exception. Let us look at the successful food entrepreneurs. You might see that many of them have predicted a trend and acted on it before their competition. Conversely, they led the way themselves to facilitate change. For example, Justin Woolverton and Douglas Bouton have changed the ice-cream business with Halo Top, their low-cal ice-cream that has America going crazy over it. Healthy ice-cream wasn’t such a significant trend before they started it and shown the world that it’s possible.
When in the food business, an entrepreneur has to make peace with the fact that there is no product which can cater to 100% of the market. The beauty of food is that there’s a flavor out there for everyone, even with vastly different tastes that we all have. However, sometimes certain trends stand out, and it’s crucial to realize ahead of time what those things may be. For example, the food industry is moving towards healthier, more eco-friendly options, since they’re becoming increasingly attractive to more people.
Having Big Goals and Determination to See Them Accomplished
Entrepreneurs also tend to think big — but not in a non-committal daydreaming type of way. They have learned to see the potential for grand things in what they want to do, or this kind of thinking comes naturally to them. When you set an entrepreneurship goal, you may or may not know exactly how to get there, but you will throw ideas at it and try out different approaches to see what will work.
Of course, not every approach will work. You may run into walls at every step you take. It’s important to be able to learn from the mistakes you’ll inevitably make without getting so discouraged that you end up quitting. If you have a dream, a big goal that you want to see accomplished, you need to have the determination to carry you through the hardships you’ll encounter. It is among the life advice we receive most often, regardless of what it is we want to do — but it’s exceptionally accurate for food entrepreneurs. If you’re not the type to give up easily, then your odds of making it in the food business indeed grow.
Key Takeaways While food entrepreneurship isn’t for everyone, there are some traits that successful entrepreneurs have which might help you determine if you should try to make it in the food business on your own. Being able to predict and act on trends, follow fresh industry insights and put your spin on them, come up with original ideas and act on them quickly, as well as staying determined in the face of hardship are all traits that will help you on the way to becoming a successful food entreprene